Finance and Economic Develompment Minister, Ignatius Chombo ACCOUNTANT-general,Daniel Muchemwa, has disclosed that government is faced with several challenges in its quest to implement a new accounting framework, the International Public Sector Accounting Standards (IPSAS). A revamp of the public sector financial management system is expected to result in improved governance, transparency and public accountability. Zimbabwe’s public sector is currently using the cash basis accounting framework but in four years, government will migrate to full IPSAS. This means the public sector will move to an accruals framework from a cash basis accounting system. “Our target to migrate to IPSAS from a cash basis accounting system is 2021,” said Muchemwa, who spoke at the Institute of Chartered Accountants…